Lamborghini revenue slips, but sales boom in Asia 08/05/2010
Italian supercar maker Lamborghini has announced revenues for the first half of its fiscal year slipped, although the company made big strides in Asia.
Lamborghini, now owned by Audi under the Volkswagen umbrella, has seen sales struggle as the recession has slowed the desire for expensive supercars. While the company made a $200 million dollar profit during the first half of 2010, that figure was down 2.6 percent year-on-year, according to Reuters. Its total sales were down 18 percent, with 674 cars sold thus far compared to 825 during the first half of 2009.
Despite the stumble, the automaker has lived up to its bull logo in at least one market, charging ahead with double-digit sales increases in many Asian countries. In China, the company delivered 86 vehicles - up from 26 the year before. The company announced that sales were also up strongly in Australia, Hong Kong, Singapore and Taiwan. Overall, the Asia-Pacific market now accounts for one-third of the company's total revenue.
"As we expected, 2010 is a year of transition for Lamborghini, in which we are positioning the brand for the next steps of its global [evolution]," said CEO Stephan Winkelmann. "The success of our Asia-Pacific strategy clearly shows the soundness of our global road map."
The company is reportedly investigating carbon fibre technology in order to determine whether it would be a viable material for a supercar.